Illegal invoice trading ring worth over 11 trillion VND exposed

On August 9, Lang Son City Police (Lang Son Province) announced that they had successfully dismantled a case and arrested three suspects: Pham Viet Cuong (born in 1977, residing in Long Bien District, Hanoi), Vu Thi Loan (born in 1981, residing in Gia Lam District, Hanoi) and Tran Thi Lien Chi (born in 1977, residing in Tan Dinh Ward, District 1, Ho Chi Minh City).

According to the investigation agency, the subjects used fake citizen identification cards or other people's citizen identification cards to establish "ghost" enterprises (enterprises without production or business activities) and then carried out the act of buying and selling invoices in a roundabout way to appropriate state money.

Specifically, from July 2023 to July 2024, the subjects established over 40 enterprises with registered business addresses in Lang Son City to illegally buy and sell invoices. Of which, 10 companies did not have purchase invoices but issued fake sales invoices with a total value recorded on value-added invoices of more than VND 11 trillion.

Verification shows that the above companies do not have signs and do not operate at their registered business headquarters.

From September 2023 to present, Tan Lang Exploitation and Trading Company Limited (headquartered in Van Lang, Lang Son) and Viet Khoi Construction Materials Trading Company Limited (headquartered in Hoan Kiem district, Hanoi, both with Pham Viet Cuong as Deputy Director) have not conducted any actual business activities but have been buying and selling fake invoices of 2/40 "ghost" companies above.

Cuong bought these invoices from Chi and another man (name and address unknown) with a total value recorded on the invoice of about 75 billion VND.

After buying fake invoices, Cuong resold them to businesses in other provinces, earning a profit of 5% to 7% on the total invoice value (excluding VAT).

The investigation determined that Loan (an accountant for both Tan Lang Company and Viet Khoi Company) helped Cuong monitor the purchase and sale of fake invoices and received and transferred money through the accounts of the two companies and Loan's personal account.

Up to now, the investigation agency has initiated a case, prosecuted the accused, and issued an arrest warrant to temporarily detain the above 3 subjects for the act of illegally buying and selling invoices.